PrairieSky Royalty Ltd. (TSE:PSK – Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$23.38 and traded as high as C$24.40. PrairieSky Royalty shares last traded at C$24.29, with a volume of 247,165 shares trading hands.
Analyst Ratings Changes
Several equities research analysts recently commented on PSK shares. CIBC dropped their price objective on shares of PrairieSky Royalty from C$31.50 to C$28.00 in a research note on Thursday, April 10th. Scotiabank upgraded shares of PrairieSky Royalty to a “hold” rating in a report on Wednesday, March 19th. Finally, TD Securities upgraded PrairieSky Royalty from a “hold” rating to a “buy” rating and set a C$27.00 price target on the stock in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, PrairieSky Royalty presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.86.
Read Our Latest Report on PrairieSky Royalty
PrairieSky Royalty Stock Performance
Insider Activity
In other PrairieSky Royalty news, Senior Officer Daniel James Bertram acquired 1,990 shares of PrairieSky Royalty stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of C$23.63 per share, for a total transaction of C$47,024.70. Also, Senior Officer Pamela Pearl Kazeil bought 2,000 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was acquired at an average cost of C$23.57 per share, with a total value of C$47,147.00. Insiders have bought a total of 24,990 shares of company stock worth $591,699 over the last 90 days. 0.54% of the stock is currently owned by insiders.
About PrairieSky Royalty
PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas.
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